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that is far from a don't raise the debt ceiling ultimatum. boehner has now shown that he's willing to break glass and allow legislation to pass without a majority of the majority. perhaps we've seen the near future in how the republicans end up agreeing to a debt ceiling raise without a battle. government funding and government shutdown, different story. >>> let's turn back to the big story of the day. and that is the president's push on guns and the coming fight with both congress and the nra. in addition to calling on congress to pass gun control legislation, the president will propose a set of executive actions. nbc's justice correspondent pete williams is here to help explain some of those executive actions. a big one that we know he's going to call for is this idea, pete, of basically ordering the justice department to prosecute people that fail background checks. explain why that hasn't been done before, and how it can be done. >> sure, first of all. the federal law makes it a crime for somebody to falsify, knowingly falsify information
that is far from a don't raise the debt ceiling ultimatum. boehner has now shown that he's willing to break glass and allow legislation to pass without a majority of the majority. perhaps we've seen the near future in how the republicans end up agreeing to a debt ceiling raise without a battle. government funding and government shutdown, different story. >>> let's turn back to the big story of the day. and that is the president's push on guns and the coming fight with both congress and...
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president obama yet on his news conference said raising the debt ceiling will not raise our debt ceiling. all we've raised the debt, we have to may more interest. that in it/will increase the spending. we have a spending problem in this country. that's what we need to address. >> what is your biggest bone of content with john boehner? you've been very public about the fact that you don't think his leadership is something you wanted over this new congress, you didn't vote for him to be the speaker. what is your main problem with him? >> i have no personal problems. i keep hearing that. he himself said i carrying no grudges. we've talked several times. the point is to let him know with le stand up to leadership and hold him account annual. i think that's important to know. that really is on both sides of the aisle. if you go back there were people that challenged the leadership, too. i think that's a good thing. you have new members of congress willing to stand up and saying let's rethink this. let's put america first, not necessarily party politics. i fired the first volley that you would
president obama yet on his news conference said raising the debt ceiling will not raise our debt ceiling. all we've raised the debt, we have to may more interest. that in it/will increase the spending. we have a spending problem in this country. that's what we need to address. >> what is your biggest bone of content with john boehner? you've been very public about the fact that you don't think his leadership is something you wanted over this new congress, you didn't vote for him to be the...
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ceiling conversation, it's important to remember, this is not solving the debate over whether the debt ceiling should be a debate. this is putting off the debate of whether the debt ceiling should be a debate. >> we're told in response to this report coming out of the white house, one white house official said it is a terrible way to run the country. when asked if the president would veto a short-term extension, the official would not say yes or no, but reiing rated the president's opposition to creating a series of self-imposed crisis. that from kristen welker at the white house. this is putting the onus off the back of the house republicans. this is a big result coming out of they are retreat in williamsburg where paul ryan and others were basically indicating that they can't win this battle. >> the president's press conference, the ball in your court press conference, this is the republicans hitting the ball back over the met saying it's now in your court. we should see. can i make one other quick note? i want a whole andrea mitchell reports on old andrea mitchell footage of preside
ceiling conversation, it's important to remember, this is not solving the debate over whether the debt ceiling should be a debate. this is putting off the debate of whether the debt ceiling should be a debate. >> we're told in response to this report coming out of the white house, one white house official said it is a terrible way to run the country. when asked if the president would veto a short-term extension, the official would not say yes or no, but reiing rated the president's...
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ceiling or the debt limit. where do we go from here? joining me now live mark murray. mark, obviously, the first thing at least some conservatives brought up with the president is that he has taken a different stance in the past when it came to the debt ceiling. >> well, in 2006, then senator barack obama ended up voting against a raise in the debt ceiling. republicans have seized on that saying that the position that president obama's taking today and also in 2011 is inconsistent with that 2006 vote. there is one very big difference between now and 2006. 2006 there wasn't this kind of big protracted battle over the debt ceiling at all. it wasn't a big issue. i was covering politics for nbc at the time. the debt ceiling increase was seen as a procedure and a very partisan vote then but not something you were reporting on for weeks and months like we have in 2011 then and now on the debt ceiling debate and, of course, what happened in 2011 was a loss to the nation's credit rating. there's big differences between
ceiling or the debt limit. where do we go from here? joining me now live mark murray. mark, obviously, the first thing at least some conservatives brought up with the president is that he has taken a different stance in the past when it came to the debt ceiling. >> well, in 2006, then senator barack obama ended up voting against a raise in the debt ceiling. republicans have seized on that saying that the position that president obama's taking today and also in 2011 is inconsistent with...
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jared, if president obama were the one holding the debt ceiling hostage, right as the housing, auto, and retail sectors seem to be rebounding, wouldn't the house republicans be calling the president's tactics those of a socialist who wanted to bring down the american economy? >> i think they would, and i appreciate your bringing the economy into it. the president did that yesterday. the more we talk about the debt ceiling after obsessing over the fiscal cliff, the more i look at the whole thing as a massive dangling the key or, you know, don't look over here at the real economy, which is where people would really like policymakers to be dealing, but look at this so-called fiscal crisis which doesn't even exist. the president very clearly, and i thought helpfully, spelled out the numbers yesterday and actually to get from where we are, given the spending cuts and tax increases that we've implemented so far, to where we need to be to stabilize the debt, is not that heavy a lift if we had a functional politics that was actually paying attention to what needs to be done instead of creati
jared, if president obama were the one holding the debt ceiling hostage, right as the housing, auto, and retail sectors seem to be rebounding, wouldn't the house republicans be calling the president's tactics those of a socialist who wanted to bring down the american economy? >> i think they would, and i appreciate your bringing the economy into it. the president did that yesterday. the more we talk about the debt ceiling after obsessing over the fiscal cliff, the more i look at the whole...
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reid to obama, it's okay to skip congress on the debt ceiling. >> that's right. i mean, that just shows how there's really no way out of this situation at this point. the two sides are arguing completely different things. on the one side republicans are saying taxes cannot be considered a part of the equation, and we need to cut spending dollar for dollar for any debt ceiling increase. >> right. the president is saying revenues must be part of an equation, and he does not want to use the debt ceiling as a bargaining chip. so what do they say, skip congress all together because they can't get it done. >> manu raju of politico and marilyn of "roll call," thank you both very much. president obama may have a new immigration plan in the works and what does that mean for his second agenda? and you may have more cash to put in the bank. after the break we'll examine the reason why. you're watching the place for politics. reliever by orthopedic doctors. just two aleve can keep pain away all day. back to the news. ♪ i don't wanna be right [ record scratch ] what?! it's
reid to obama, it's okay to skip congress on the debt ceiling. >> that's right. i mean, that just shows how there's really no way out of this situation at this point. the two sides are arguing completely different things. on the one side republicans are saying taxes cannot be considered a part of the equation, and we need to cut spending dollar for dollar for any debt ceiling increase. >> right. the president is saying revenues must be part of an equation, and he does not want to...
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he's not negotiating over the debt ceiling. michael, is this more of what we're going to hear from him today? is he going to lay the groundwork for the battle ahead? >> i think so. to some degree i think what's happening is a game of chicken unfortunately. i know the financial markets hate it. and it kind of turns your stomach a little bit. but obama has said we're absolutely not negotiating over the weekend a significant event when the treasury department ruled out this kind of fantastical sounding option of minting a trillion dollar platinum coin. so they've closed yet another door, and he's essentially said, you know, i'm just not playing ball. i read that politico story today as very interesting. it could be john boehner's camp saying we can't control the far right wing. it could also be a little bit of a bluff. it may be that boehner really feels that way or maybe he wants the white house the think he feels that way and it could be, again, part of this grand game of chicken. everyone is positioning right now. that's what's
he's not negotiating over the debt ceiling. michael, is this more of what we're going to hear from him today? is he going to lay the groundwork for the battle ahead? >> i think so. to some degree i think what's happening is a game of chicken unfortunately. i know the financial markets hate it. and it kind of turns your stomach a little bit. but obama has said we're absolutely not negotiating over the weekend a significant event when the treasury department ruled out this kind of...
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ceiling. geithner says he will replace the money, about $156 billion, once the debt limit is raised. it should not jeopardize monthly pension payments. >>> the world anti-doping agency says if lance armstrong wants to compete, he'll have to testify under oath. in a tell-all interview with oprah airing tonight, armstrong admits to doping. we're also hearing from the livestrong foundation which said in a statement, we expect lance to be completely truthful and forthcoming in his interview and with all of us in the cancer community. inspired by the people with cancer whom we serve, we feel confident and optimistic about the foundation's future and welcome an end to speculation. >>> just moments ago, look at this, crews rescued a woman who had been trapped for several hours in between buildings in portland, oregon. she apparently went out for a smoke break and somehow fell into a tight space between those buildings. firefighters actually had to cut through a wall of a parking garage to get her out
ceiling. geithner says he will replace the money, about $156 billion, once the debt limit is raised. it should not jeopardize monthly pension payments. >>> the world anti-doping agency says if lance armstrong wants to compete, he'll have to testify under oath. in a tell-all interview with oprah airing tonight, armstrong admits to doping. we're also hearing from the livestrong foundation which said in a statement, we expect lance to be completely truthful and forthcoming in his...
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but they want it separated from debt ceiling. >> let's talk about this debt ceiling thing, howard. do you think the press objectively can report the way the president tried to sell it, which is if this government can't pay its debts, refuses to pay it because of the debt ceiling, is that the republican decision or is it going to be played, conflict in washington, gridlock, both parties to blame? >> well, the president said in the press conference i think people will blame all of washington, but he didn't mean it. and he doesn't believe it. he thinks, and i think rightly thinks, that the political onus will be on the republicans. the president said we aren't a deadbeat nation, which is one of many great quotes in that press conference. >> i like that word, deadbeat. >> we aren't a deadbeat nation, and he said the republicans will turn us into a deadbeat nation if they do what they're threatening -- >> if somebody else objects to the question, if there's a different answer, i'll accept it. did the democrats ever play the game of not paying the bills of the united states government as
but they want it separated from debt ceiling. >> let's talk about this debt ceiling thing, howard. do you think the press objectively can report the way the president tried to sell it, which is if this government can't pay its debts, refuses to pay it because of the debt ceiling, is that the republican decision or is it going to be played, conflict in washington, gridlock, both parties to blame? >> well, the president said in the press conference i think people will blame all of...
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could hit the debt ceiling as soon as mid-february. joining me now, host of "power lunch," tyler matheson. good to see you again. >> hi, tamron. >> we have the threat of our credit rating being downgraded here as wall street keeps an eye just like people at home what's happening in d.c. with the latest battle. >> this is really the biggy. compared with the fiscal cliff which was by all accounts a roughly familiar tax and spending debate, this one has far more import because it will determine whether among other things the united states continues to make good on the obligations it has already undertaken. interest and principal on the debt we have borrowed. our credit rating which was so famously downgraded in the summer of 2011 hangs in the balance here. and of course, people on both sides of the aisle are fighting over whether it is fair game to use the debt ceiling as a piece of political leverage to get the government to stop its spending. on the one hand, people on the right say, well, what else are we going to use? we are engaging
could hit the debt ceiling as soon as mid-february. joining me now, host of "power lunch," tyler matheson. good to see you again. >> hi, tamron. >> we have the threat of our credit rating being downgraded here as wall street keeps an eye just like people at home what's happening in d.c. with the latest battle. >> this is really the biggy. compared with the fiscal cliff which was by all accounts a roughly familiar tax and spending debate, this one has far more import...
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for example, how to raise the debt ceiling. can they even get that passed? at the end of the week, boehner will head to williamsburg, virginia to walk them through the consequences of default and then sell them on a plan that steers them away from that. as the vice president gets set to meet with house democrats about gun violence today, if the political will to change gun laws really there? democratic congressman jim clyburn, he joins me next on that topic and some others. like are we headed for another government shutdown? fight over the debt ceiling, what comes first, but first, a look ahead at the president's schedule today. lots of off camera meetings. life live lunch. you're watching "the daily rundown" only on msnbc. [ man ] ring ring... progresso this reduced sodium soup says it may help lower cholesterol, how does it work? you just have to eat it as part of your heart healthy diet. step 1. eat the soup. all those veggies and beans, that's what may help lower your cholesterol and -- well that's easy [ male announcer ] progresso. you gotta taste this
for example, how to raise the debt ceiling. can they even get that passed? at the end of the week, boehner will head to williamsburg, virginia to walk them through the consequences of default and then sell them on a plan that steers them away from that. as the vice president gets set to meet with house democrats about gun violence today, if the political will to change gun laws really there? democratic congressman jim clyburn, he joins me next on that topic and some others. like are we headed...
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to reduce the debt ceiling, we talked to businesses outside of new york, if we don't raise the debt ceiling, it's a potential, reality for wrecking -- >> that's the wrong time. >> the debt ceiling is the wrong time to do it. >> saying you can't do it with the debt ceiling, can't do it with the fiscal cliff, can't do it shutting down the government. all i'm talking about, the president of the united states has absolutely no is in no position to talk about who's being reckless with the debt. the real default has come from his lack of leadership on deficits and debts. the federal deficit has been over a trillion dollars all four years he's been president of the united states. he's done absolutely nothing to curb the costs of these programs that will, according to democra democrats -- >> hmm. >> bankrupt us. what has harry reid rand democrats done in the senate? absolutely nothing. how many days since they passed a budget? >> 1,357. >> 1,357 days since democrats have passed a budget in the united states senate. >> let's talk about that lack of leadership so many people have criticized the presi
to reduce the debt ceiling, we talked to businesses outside of new york, if we don't raise the debt ceiling, it's a potential, reality for wrecking -- >> that's the wrong time. >> the debt ceiling is the wrong time to do it. >> saying you can't do it with the debt ceiling, can't do it with the fiscal cliff, can't do it shutting down the government. all i'm talking about, the president of the united states has absolutely no is in no position to talk about who's being reckless...
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susan collins believes the debt ceiling must be raised. we have seen how the debt ceiling can be raised without a battle. the first read today, this is an interesting development that perhaps will expedite this debt ceiling battle. >> we have a lot more twists and turns to come in the battle. one of the best predictors of whether one side will win or lose and how unify and united that side is. we are seeing fizzures among republicans and conservative writers as well as gop interest groups who are saying we shouldn't pick a fight when it comes to the debt ceiling. maybe it's better to pick a fight over shutting the government down rather than risking the default of the government when it comes to raising the debt ceiling. this is a significant development. it shows a lot of people thought we were looking ahead to the debt ceiling and the republicans had a lot more leverage. that can call it into question. >> that are sounds like the president describes. i use the word lurching to the next crisis ahead. it was the fiscal cliff and then it wa
susan collins believes the debt ceiling must be raised. we have seen how the debt ceiling can be raised without a battle. the first read today, this is an interesting development that perhaps will expedite this debt ceiling battle. >> we have a lot more twists and turns to come in the battle. one of the best predictors of whether one side will win or lose and how unify and united that side is. we are seeing fizzures among republicans and conservative writers as well as gop interest groups...
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i'm not going to give house republicans anything for raising the debt ceiling. it's on them. if they want to take the heat for veterans benefits and social security benefits not getting to people, what game of chicken are we playing here? >> really high stakes game of chicken is what we're playing here. i had the occasion of going back and reading actually the president's first news conference after he became president, and he is talking then about his overtures to republicans and how he hopes he can create habits of good behavior. well, it's been four long years, and that was about the feistiest press conference spurred by nothing other than he just really wanted to send this signal once again. his message was i'm not backing down, and he is getting the message back from republicans that they aren't either. i think we're going to be asking ourselves which side is going to blink for the next several weeks. i don't know that -- i don't feel confident that i know the answer to that question. >> ruth marcus, thank you very much. kristen welker thank you, from the white house. >>
i'm not going to give house republicans anything for raising the debt ceiling. it's on them. if they want to take the heat for veterans benefits and social security benefits not getting to people, what game of chicken are we playing here? >> really high stakes game of chicken is what we're playing here. i had the occasion of going back and reading actually the president's first news conference after he became president, and he is talking then about his overtures to republicans and how he...
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meanwhile the problem break through on the debt ceiling. the house gop said they are considering raising the debt limit for three months, a vote is scheduled next week, more details on that in a bit. >>> today, of course is the last full day of president obama's first term and it's the national day of service. day for giving back. earlier today the president and first lady volunteered at a school in the washington, d.c. area, nbc's ron is standing by the national day of service day tent at the mall and you have a special guest there with you as well, good day to you, sir? >> reporter: hey there, craig. my special guest is being mobbed by the crowd behind me. it's the senior adviser to president obama. she will make her way here in a second. as she comes up, we will give her a big welcome. welcome, valerie. pleasure to see you. >> pleasure to be here. can you believe the crowd? it's amazing. >> reporter: the president and first lady created this to really hopefully make it a standing tradition for inaugurations going forward. >> not just ina
meanwhile the problem break through on the debt ceiling. the house gop said they are considering raising the debt limit for three months, a vote is scheduled next week, more details on that in a bit. >>> today, of course is the last full day of president obama's first term and it's the national day of service. day for giving back. earlier today the president and first lady volunteered at a school in the washington, d.c. area, nbc's ron is standing by the national day of service day...
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on the debt ceiling. not again. and today after months of insisting that the president really did have to negotiate with them on that, republicans gave up. david corn "showdown," the stand off the president faced with republicans. thanks for being here. >> good to be here, rachel. >> eric cantore said, yeah, we're going to give up, but only for three months. what did you make of that? >> i'm the last guy who wants to cause a spike in the vix, but, you know, there are a couple of things to think about here. i call this plan r for run away. but we know that john boehner often has had trouble with his various plans. plan b most notoriously, getting them approved, accepted and passed by his own house republicans. and cantore made a very declarative statement today. there already immediately were grumblings that some house republicans will go along with this i'm not sure that democrats will, too. it remains to be seen whether, indeed, john boehner and cantore can get passed what they want to do. then again this is just a
on the debt ceiling. not again. and today after months of insisting that the president really did have to negotiate with them on that, republicans gave up. david corn "showdown," the stand off the president faced with republicans. thanks for being here. >> good to be here, rachel. >> eric cantore said, yeah, we're going to give up, but only for three months. what did you make of that? >> i'm the last guy who wants to cause a spike in the vix, but, you know, there are...
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they have announced to be taking a vote on the debt ceiling. so it just -- >> on wednesday. >> only gets better. >> yeah. at this point, we are in the middle of a process of governing that's going to get very hot very fast this week with the debt ceiling vote in the house and potentially a filibuster vote in the senate. the president speaking to some of those matters at least in the second inaugural. not a state of the union but had a lot of specifics in it. you are watching msnbc's live continuing coverage of president obama's second inauguration. we'll be right back. have given way to sleeping. tossing and turning where sleepless nights yield to restful sleep. and lunesta®(eszopiclone) can help you get there. like it has for so many people before. when taking lunesta, don't drive or operate machinery until you feel fully awake. walking, eating, driving, or engaging in other activities while asleep, without remembering it the next day, have been reported. lunesta should not be taken together with alcohol. abnormal behaviors may include aggres
they have announced to be taking a vote on the debt ceiling. so it just -- >> on wednesday. >> only gets better. >> yeah. at this point, we are in the middle of a process of governing that's going to get very hot very fast this week with the debt ceiling vote in the house and potentially a filibuster vote in the senate. the president speaking to some of those matters at least in the second inaugural. not a state of the union but had a lot of specifics in it. you are watching...
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do you think he'll be successful avoiding a terrible bruising battle over the debt ceiling? >> i think the president will be successful. the president won, and he won big, and people must respect that. he has the know-how, the skill, the gut to lead. he must tell people when he speak tomorrow during his inaugural that we must come together and look out for the common good and work together and be prepared to compromise. >> but that art of compromise is something we have not seen much of lately in this nation's capital on capitol hill. without a re-election campaign looming ahead, do you think the parties will be able to better work together with this this president in his second term? >> i think we all must work together with this president, not just democrat, not just liberals, but republicans and conservatives. if people fail to come together and work together the republican party will be a party of the past. >> tomorrow is a big day, a great day. a man you called your brother would have been 84. what is his legacy today? how will you read that? >> well, it's a different d
do you think he'll be successful avoiding a terrible bruising battle over the debt ceiling? >> i think the president will be successful. the president won, and he won big, and people must respect that. he has the know-how, the skill, the gut to lead. he must tell people when he speak tomorrow during his inaugural that we must come together and look out for the common good and work together and be prepared to compromise. >> but that art of compromise is something we have not seen...
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on the debt ceiling issue it is dramatically different. and on top of that you also have two other issues where these two sides will be going head to head. again, the issue of sequester. and obviously, the continuing resolution, basically the way the government is paid for going forward. so we've got a busy couple months ahead of us. >> we do. hey, peter, we have to take note that we're going to see you in a little more dressed down, little more casual sigde of you at the bottom of the hour for office politics. for anyone who wants to see what goes on behind the scenes with you, tune in. are you nervous? >> i think i have a pretty good sense how this is going to go. i was more nervous when you came here-p but i know you took good care of me. it will be all right. >> it will. it will be interesting for folks who stick around. thanks, peter. >> thanks, alex. >> carol lee and associate politics editor for roll call david drucker. welcome to both of you. >> good morning. >> carol, i'll speak with you first. as the president says, he's not goin
on the debt ceiling issue it is dramatically different. and on top of that you also have two other issues where these two sides will be going head to head. again, the issue of sequester. and obviously, the continuing resolution, basically the way the government is paid for going forward. so we've got a busy couple months ahead of us. >> we do. hey, peter, we have to take note that we're going to see you in a little more dressed down, little more casual sigde of you at the bottom of the...
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and let's take it to them on the debt ceiling. that is what we'll do on the debt limit. that is where we'll fight the battle. that is where we're take it to obama, that is where we'll make him pay and get the spending cuts. remember that? that is where we're at. we're now at the debt limit. and guess what? this is not the time to fight this battle. we can't win anything on the debt limit. and when we get to march and the continuing resolution -- you know what, what will be said then? this is not the hilda fight, we don't want to be responsible for people not getting their social security checks. we don't want to be blamed for it. >> joining me now are ryan grim, washington bureau chief for "huffington post," ryan, so really, they on the debt ceiling, if all the democrats voted to raise it they would only need 18 republican votes to raise it. is that the kind of thing we're going to see happen? >> i mean, you're either going to see that or a complete and total cave. but i don't think you will see a complete and total one, because you have the tea party still hanging aroun
and let's take it to them on the debt ceiling. that is what we'll do on the debt limit. that is where we'll fight the battle. that is where we're take it to obama, that is where we'll make him pay and get the spending cuts. remember that? that is where we're at. we're now at the debt limit. and guess what? this is not the time to fight this battle. we can't win anything on the debt limit. and when we get to march and the continuing resolution -- you know what, what will be said then? this is...
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stay away from letting the debt ceiling not be raised because those are things that the american people will hate. they'll hate us defaulting onli blame you for it. they'll hate us shutting the government down. if you want to make a stand, make it in the sequester. the sequester has a lot of things that are painful to the democrats and the president. that's the place to plak the stand. and, look, everyone agrees, every rational person agrees with michael. you've got a spending person as well as a revenue problem. we've got to cut spending. if you're republicans, make it under sequester. if you shut the government down or if you don't allow the debt ceiling to be raised and america defaults on its debts, whoa is you. there are a lot of suburban republican congressman who are absolute absolutely signing their death warrant. >> well, why not make the point on the sequester. why go to this extreme of a government shutdown. >> well, i'd actually agree with the governor. i think that that is a better spot to hold some ground. quite honestly, because those cuts are already in play. everybody k
stay away from letting the debt ceiling not be raised because those are things that the american people will hate. they'll hate us defaulting onli blame you for it. they'll hate us shutting the government down. if you want to make a stand, make it in the sequester. the sequester has a lot of things that are painful to the democrats and the president. that's the place to plak the stand. and, look, everyone agrees, every rational person agrees with michael. you've got a spending person as well as...
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Jan 14, 2013
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in 2011 when we had the debt ceiling debacle, they agreed to the budget control act which was another billion dollars, roughly, of cuts. again, mostly from if not entirely from discretionary programs. and then, of course, we had the fiscal cliff which was $650 billion of revenue increases. so so far, we've actually had $2.4 trillion over a ten-year period of deficit reduction. but about 30% of it has come from rev lienue increases and at the other 70% from come from spending cuts. entirely from discretionary programs. >> what's the budget control act? >> it's what came out of the last debt ceiling debacle when the republicans and the democrats agreed on this trillion dollars of roughly discretionary -- all discretionary spending reductions. but the point is, none of this really touches entitlements. none of it touches the mandatory. and its $2.4 trillion. >> where is the sequestration in these numbers? >> it's not in here yet because it hasn't happened yet. this is sort of where we are today. this next graph shows you how budget wonks measure our progress. if we had done nothing, we w
in 2011 when we had the debt ceiling debacle, they agreed to the budget control act which was another billion dollars, roughly, of cuts. again, mostly from if not entirely from discretionary programs. and then, of course, we had the fiscal cliff which was $650 billion of revenue increases. so so far, we've actually had $2.4 trillion over a ten-year period of deficit reduction. but about 30% of it has come from rev lienue increases and at the other 70% from come from spending cuts. entirely from...
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Jan 18, 2013
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they'll push -- the question is how -- how do they push on the debt ceiling? do they say, look, we'll give you a short-term extension of the debt ceiling for a certain amount of spending cuts, or we'll give you a long-term extension like you want for even more spending cuts. can they force entitlement reform around medicare, for instance, even some of the -- in their view -- more limited things that the president wants to do around means testing and age and indexing to try to attach that to a debt-limit deal. do they move beyond the debt limit, try to get to the continuing resolutions and those kinds of things? they recognize that this is the only area of leverage that they have, but they want to be careful about it. >> so chuck todd, how does the white house deal with that supposed leverage? >> well, first i think the republicans are hoping that they have a manti te'o defense, that somehow it was all a hoax and maybe the election was a hoax and they can go back and redo everything. no. i think the republican -- the white house strategy is make the house repub
they'll push -- the question is how -- how do they push on the debt ceiling? do they say, look, we'll give you a short-term extension of the debt ceiling for a certain amount of spending cuts, or we'll give you a long-term extension like you want for even more spending cuts. can they force entitlement reform around medicare, for instance, even some of the -- in their view -- more limited things that the president wants to do around means testing and age and indexing to try to attach that to a...